Odisha court rejects fixer Subhankar Nayaks’s bail plea

The District and Session Judge court here today rejected the bail plea of fixer and real estate broker Subhankar Nayak, arrested by the CBI in connection with the Odisha chit fund scam.

Pic: Biswaranjan Mishra

The court rejected the bail plea after hearing the arguments of the counsel for Nayak and CBI senior counsel Kali Charan Mishra today.

CBI had arrested Nayak for his alleged links with ponzi firm Seashore Group on November 18 hours after his house in Chandrama Apartments was raided.

During its raid, the agency had seized a host of documents that proved his strong links in political and bureaucratic circles in the state.

Based on the information extracted from this high profile fixer, CBI is planning to question a number of top bureaucrats and police officials, who facilitated the operations of the chit fund companies, sources said.